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Technology 3 min

How Technology Can Improve Small Businesses’ Bottom Lines

In today’s highly competitive market businesses face working challenges which shouldn’t be underestimated. These challenges are diverse and include issues such as limited time, manpower and budgets, to administrative, HR and financial strains, as well as a continual need to improve customer service and reduce costs.

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In particular, small and micro sized businesses need to take note of these issues.

While micro businesses are integral to economic recovery, in order to stay ahead of the competition and grow exponentially, they need to take advantage of technology to showcase their products and services, improve customer services and reduce costs – all of which will provide an edge over larger competitors.

Technology remains vital for micro businesses to grow and intelligent outsourcing allows business owners to focus on critical needs and growth. However, one area in particular remains central to success – customer service – particularly for micro-enterprises where the owner needs to manage a number of different roles from manufacturer and salesperson, to marketer and accountant. With limited time, resources, and an extensive workload, providing seamless customer service can appear extremely difficult to master.

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In fact, a recent survey found that 70% of micro business owners admit to having taken a business call in the toilet to avoid missing out on new business. The research highlights not only the high levels of commitment portrayed by micro businesses, but also reiterates the competitive nature of the market place.

However, by equipping staff with technology which allows for flexible working, immediacy and the ability to work at full capacity from anywhere/24/7, micro businesses will soon be on their way to reaching their full business potential and providing customer service that can not only equal, but, surpass that of their competitors.

Ed Reeves, co-founder of Penelope, shares his top tips on using technology to improve your business.

For the 4.6 million micro businesses in the UK, technology is the key to levelling the playing field with big corporations. Whether it’s a web-based tool such as invoice systems, a software program, social media, mobile apps or call management solutions, micro business owners need to embrace technology in order to become as streamlined and efficient as possible while still maintaining the ability to provide the best level of customer service possible.

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